Quiz | September 2008

Even More Ethical Dilemmas: Do You Agree With Knight?

Do you handle your money and your business dealings in an ethical manner? For example, should you tip for lousy service? How closely should you honor a loved one's last wishes? What should you do if the bank makes an error in your favor?

Here are ten questions about real-life financial quandaries that readers have asked editor-in-chief Knight Kiplinger, who answered them in his Money & Ethics magazine column. See how your moral compass squares with Knight's opinions. And remember, reasonable people can differ.

When you've completed the quiz, you'll find links to Knight's column archive and other quizzes inspired by Knight's mail. You can even send him an email with your own question.

Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Question 1 of 10

Is it okay to leave a restaurant server a stingy tip for bad service?

A. Yes.
B. No.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 1 of 10

Is it okay to leave a restaurant server a stingy tip for bad service?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"Yes, indeed, if the bad service is really the server's fault—rudeness, botched orders, a bored manner. But don't penalize a server for things beyond his or her control, such as a short-handed kitchen, not enough servers or bad food."

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Even More Ethical Dilemmas: Do You Agree With Knight?

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Question 2 of 10

Should hospitals, universities, museums and other non-for-profit entities be exempt from paying local real estate taxes?

A. Yes.
B. No.

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Even More Ethical Dilemmas: Do You Agree With Knight?

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Question 2 of 10

Should hospitals, universities, museums and other non-for-profit entities be exempt from paying local real estate taxes?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"All owners of land and buildings in a community—whether for-profit or nonprofit entities—use the basic services provided by their city or county. Because most of these services, such as sewers, roads, police and fire protection, are funded by real estate taxes, it’s reasonable that every owner should pay something. If the citizens of a city or county wish, they could vote to give local nonprofits some degree of discount from a normal tax bill."

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Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Question 3 of 10

Your mom died recently. She had verbally promised you a few valuable keepsakes, though there's no record of it. What should you do?

Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Your mom died recently. She had verbally promised you a few valuable keepsakes, though there's no record of it. What should you do?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"By law, everything that belonged to your mother — especially things of value — should be inventoried and appraised before dispersal. If there is no record of your mother's wishes, and others in the family want the same things, the executor must negotiate a settlement among all of you — even if by drawing straws — to ensure that each heir gets equivalent value."

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Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Question 4 of 10

You know you bought more house than you should have at the top of a hot market. Now you qualify for help from a mortgage-relief program. Your finances are tight, but you don't NEED assistance. Should you take it anyway?

A. Yes. It would be a mistake to pass up free money.
B. No. Your bad luck is no one else's fault.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 4 of 10

You know you bought more house than you should have at the top of a hot market. Now you qualify for help from a mortgage-relief program. Your finances are tight, but you don't NEED assistance. Should you take it anyway?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"It would be unethical to use public funds from the mortgage-relief programs if you don't need assistance. Gaming the system would divert public funds from those borrowers who truly cannot meet their mortgage obligations and are truly in need."

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 5 of 10

Is it okay to buy clothes, wear them once, then reattach the tags and return them to the store?

A. Yes.
B. No.
C. Only if you have them cleaned before returning them

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 5 of 10

Is it okay to buy clothes, wear them once, then reattach the tags and return them to the store?

Knight Agrees!Here's how Knight sees it: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Here's how Knight sees it: CORRECT_ANSWER

"As I see it, anyone who 'buys' products with the intention of using them and then returning them is stealing that one-time use from the store. Sadly, I hear from friends in retail that this practice is quite common -- and not confined to apparel. It has led many stores to accept returns only for store credit, not a refund. So who gets hurt in the end? All the other customers."

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 6 of 10

Your brother is wealthy and you figure that he will take in your kids if something were to happen to you and your spouse. Should you buy life insurance anyway?

A. Yes.
B. No.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 6 of 10

Your brother is wealthy and you figure that he will take in your kids if something were to happen to you and your spouse. Should you buy life insurance anyway?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"You may be right about the fate of your children (especially if you have named your brother as guardian in your will), but forgoing life insurance makes you a moocher regardless. A key tenet of ethical living is taking responsibility for yourself and your dependents. You should plan for the security of your own family as best you can and not put that burden on others."

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Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Question 7 of 10

Your plumber always asks to be paid in cash. You suspect that he doesn't plan to report it on his tax return. Should you mind?

A. Yes.
B. No.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 7 of 10

Your plumber always asks to be paid in cash. You suspect that he doesn't plan to report it on his tax return. Should you mind?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"Your suspicions are probably right. And, yes, you should mind—unless you like paying for his share of the public services funded by income taxes."

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 8 of 10

Is it ethical to bring your spouse along on a business trip?

A. Yes, as long as you pay his or her share out of pocket.
B. No, it's wrong to mix your personal life with business.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 8 of 10

Is it ethical to bring your spouse along on a business trip?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"Yes, as long as you get your work done and pay the added costs of your spouse accompanying you—his or her airfare, meals, side trips for pleasure and so on. If traveling alone, you would still need a hotel room and rental car, so you don't have to reimburse the company for your spouse sharing in their use."

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 9 of 10

To avoid paying for multiple subscriptions to a newsletter, your boss asks you to photocopy each issue and circulate the copies to several dozen managers. Should you feel uneasy about this?

A. Yes.
B. No.

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 9 of 10

To avoid paying for multiple subscriptions to a newsletter, your boss asks you to photocopy each issue and circulate the copies to several dozen managers. Should you feel uneasy about this?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"Yes, indeed. He's directing you to violate federal copyright law. Point out to him the prohibition against copying (which is printed on the newsletter) and suggest that you ask the publisher about a site license for your whole office. It's typically sold at a discount."

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Even More Ethical Dilemmas: Do You Agree With Knight?

Question 10 of 10

Your bank made a $1,000 error in your favor, which you brought to its attention twice and offered to repay. The bank said it'd look into the matter and debit your account, but that never happened. What should you do?

Quiz

Even More Ethical Dilemmas: Do You Agree With Knight?

Question 10 of 10

Your bank made a $1,000 error in your favor, which you brought to its attention twice and offered to repay. The bank said it'd look into the matter and debit your account, but that never happened. What should you do?

Knight Agrees!Knight says: CORRECT_ANSWER

Knight Disagrees!

You answered, YOUR_ANSWER

Knight says: CORRECT_ANSWER

"You made an honest attempt to correct the error and the bank dropped the ball. You needn't keep trying. Make sure you keep a record of whom you talked to and when, just in case the bank discovers the error and tries to say you did something wrong. After some time has passed, consider doing something creative with the windfall that isn't really yours, like giving it to charity."

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Even More Ethical Dilemmas: Do You Agree With Knight?

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Editor's Picks From Kiplinger

answer_num=1,1,2,2,2,1,1,1,1,1|answer_text="A. Yes.","A. Yes.","B. Better talk to your siblings first.","B. No. Your bad luck is no one else's fault.","B. No.","A. Yes.","A. Yes.","A. Yes, as long as you pay his or her share out of pocket.","A. Yes.","A. Give up and don't worry about it."|total_questions=10|url=/quiz/spending/T065-S001-the-money-ethics-quiz-2008-edition/index.html|total_pages=22|page_id=10500|evaltext_num=0|kipad_id=FamilyFinancesQuizzes